Bank regarding America today introduced Balance Assist™, a revolutionary new solution that provides a low-cost way for clients to manage their short-term liquidity needs, borrowing only the amount they need, up to $500. Balance Assist is the latest offering in a comprehensive band of financial possibilities and services designed to help clients bank confidently and improve their financial lives.
“Balance Let is the current within the an effective selection of clear, easy-to-fool around with methods to let our very own subscribers budget, conserve, spend and borrow meticulously and you will with confidence,” told you D. “People require the advantage to reach economic freedom and balances, and are also trying to easy, clear choice and you can suggestions to assist them along the way.”
Bank away from America customers can increase the monetary fitness by setting-up a discount discipline, trying to generate their borrowing, and you may improving its budgeting event in part through this group of beneficial choices
Delivered from organizations award-successful digital streams and you may experienced financial experts, it gang of safer financial choice support see clients’ casual banking, deals and credit demands, and you can comes with:
- Balance Assist – With this new short-term, low-cost loan, online payday loans Missouri Bank of America clients can now borrow up to $500 (in increments of $100) for a $5 flat fee regardless of the amount advanced to their account. Repayments would be made in three equal monthly installments over a 90-day period. To learn more, review these most device information and eligibility criteria. Borrowers must have been a Bank of America checking account client for at least one year. Balance Assist is scheduled to launch in select states by and in remaining states early next year.
- SafeBalance™ – Now, more dos mil website subscribers use this membership, that’s made to enable them to purchase just the money it supply. Which have SafeBalance, there are not any overdraft charge plus the monthly maintenance commission try waived to own eligible people beneath the period of 24 otherwise website subscribers signed up for our very own Preferred Perks program. Readers tends to make costs with an excellent debit credit or electronically when subscribed to Zelle ® , mobile otherwise on line banking.
- Contain the Change ® – Delivered from inside the 2005, Keep the Alter try the first program of their type so you’re able to let readers generate savings from the immediately depositing free change from circular up debit credit deals toward a checking account. Now, over 6 million readers fool around with Hold the Transform. During the last fifteen years, this option keeps aided clients direct more than $fifteen mil in excess switch to savings profile.
- Shielded Card – This easy and you may easier bank card might help members establish, bolster or reconstruct its credit. Customers can apply to have a merchant account with a security put out of $300. That have in charge credit behavior, website subscribers can also be boost their credit rating and, throughout the years, get be considered for their security deposit came back.
- Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Society Homeownership Partnership, which has already helped nearly 13,000 low- and moderate-income homebuyers achieve homeownership through low down payment loans and down payment and closing cost grants.
“We still develop a variety of imaginative answers to help the readers go good economic ground,” told you April Schneider, direct of User and you may Home business Circumstances within Financial of The united states. “Choice particularly Balance Help, SafeBalance and Covered Card let render members that have financial stability, and will wear them a path to expanded-name financial wellness.”
These solutions and services are available through the award-winning Bank of America Mobile Banking app and are supported by Erica, our digital assistant. These solutions are built to encourage good financial habits, as are additional resources available through Greatest Currency Activities ® , our free financial education platform that provides a simple, accessible way to connect people to the tools and education they need to help take control of their finances. Since 2013, Better Money Habits content has been viewed more than 120 million times.
Bank of America
Bank of America is just one of the earth’s leading creditors, providing personal customers, small and middle-sector companies and large corporations having an entire variety of banking, paying, resource government or other monetary and you may risk administration products. The business provides unmatched convenience in america, offering approximately 66 mil individual and you can small business customers which have whenever cuatro,300 retail financial centers, in addition to approximately step three,000 financing centers, 2,600 monetary locations having a buyers Funding Economic Solutions Coach and you may whenever 2,2 hundred company stores; just as much as 16,900 ATMs; and you may honor-effective electronic financial having around 39 billion productive pages, together with whenever 31 million mobile users. Lender away from The usa are a major international frontrunner when you look at the wealth management, business and you will financing banking and you may exchange around the a broad selection of house classes, providing firms, governments, organizations and individuals around the world. Lender out of The united states even offers industry-top assistance to help you up to step three million home business property courtesy a beneficial package out of creative, easy-to-explore online services. The firm provides customers as a consequence of operations along the All of us, their areas and you can around thirty five countries. Lender out-of The united states Enterprise inventory (NYSE: BAC) is on the Nyc Stock exchange.
For more Bank of America news, including dividend announcements and other important information, visit the Lender out-of The united states newsroom and register for news current email address notification.